Bajaj Allianz Offers
Missed Call Facility
For Travel Insurance
Private general insurer Bajaj
Allianz General Insurance has
introduced a missed call facility
for its travel insurance customers.
The company is the first in the
insurance industry to extend such
a service, where customers can
receive comprehensive assistance
and information while abroad.
The objective behind the launch
is to provide “prompt and relevant
assistance in times of need”,
according to a spokesperson from
the company. The missed call
facility will initially be available in
English and Hindi.
“We are always exploring
avenues to enhance customer
engagement and provide them
instant insurance solutions,”
said Sasikumar Adidamu, Chief
Technical Officer, Bajaj Allianz
General Insurance. “This missed
call facility is a step towards being
there for the customer when they
need us the most, and provide
them with immediate assistance
to solve major causes of concern
while travelling overseas.”
‘Digital Transactions
In India Could Be $1 Trillion
Per Annum By 2025’
B
y 2025, digital transactions in India could be worth $1
trillion annually, a white paper released by ACI Worldwide, a
provider of electronic payment and banking solutions, and AGS
Transact Technologies (AGSTTL) has said. According to the
paper, digital transactions in India will account for four out of
every five transactions. It also identified UPI (Unified Payments
Interface) transactions as a key driver for digital payments in
India’s banking and fintech industry.
According to Manish Patel, Vice President, ACI Worldwide,
“India is undergoing an incredible transformation driven by the
rapid digitisation of payments. The findings of our new research
reinforce our view that flexible, scalable and reliable technology
will be critical to the future of payments in India as the market
continues to experience incredible growth.”
The research paper highlighted that India’s smartphone user
base will likely double to 500 million by 2020. Furthermore, the
user base for digital transactions in India could triple to 300
million by 2020 as digital transactions grow in rural and semi-
urban areas. The current user base is close to 90 million.
It observed that mass adoption of e-payments and a thriving
fintech industry combined with regulatory policy are set to propel
India into a leading position in the global payments landscape.
But the research paper also cautioned against parallel rise of
cyber attacks with the growth of digitisation and its cost to India.
According to the research, the cost of cyber security in India,
which is currently estimated to be $4 billion annually, could rise
to $20 billion by 2025.
Suyash Desai
www.outlookmoney.com April 2018 Outlook Money
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